How do you help academic entrepreneurs get their ideas from the lab bench to the market?

MaRS Innovation (MI) is the official commercialization agent for 15 of Toronto's leading research institutions. Technologies disclosed to us span therapeutics, medical devices and diagnostic imaging, information and communications technologies, and advanced manufacturing and clean technologies.

MI taps into $1 billion of annual research and development in Toronto’s largest research hub. Located within the MaRS Discovery District building, we are a separate, not-for-profit organization and have an independent mandate, board of directors and staff.

MaRS Innovation is supported by the Networks of Centres of Excellence (federal funding body), the Ontario Government and by our members as part of a collective strategy to close the nation’s productivity gap and improve Canada’s economic security. In 2008, the Networks of Centres of Excellence for Commercialization and Research (CECR) awarded us $14.95 million over five years; we extended this funding by another $14.95 million in 2013. Combined with support from our members, industry partners and other in-kind contributions, MaRS Innovation and its companies have secured approximately $75 million in our six years of operations.

Creating an organization like MaRS Innovation is completely unprecedented. It demonstrates the readiness of Toronto’s academic, health care and research communities to unleash the benefits of clustering. Their willingness to experiment enables MI to see technologies emerging across our portfolio, combining both like minds and research assets, as we build the strongest possible start-up companies and license opportunities. 

MaRS Innovation

Dr. Raphael (Rafi) Hofstein joined MaRS Innovation as President and CEO in June 2009.

During the 1980s, Dr Hofstein held the roles of scientific director of Biotechnological Applications Ltd., and manager R&D and chief of Immunochemistry at the International Genetic Scientific Partnership, organizations that were pivotal in developing Israel’s world-leading biotechnology sector.

Dr. Hofstein was scientific director of the Israeli office of Ecogen Inc., a subsidiary of Monsanto, for over six years before assuming the role of vice-president, Business Development for Ecogen in Langhorne, Pa.

From 1997 to 1999 Dr. Hofstein was president of Mindsense Biosystems Ltd., an Israeli company that develops neuropsychiatric immune assays. From 1999 to the present, he has held the position of president and CEO of Hadasit Ltd., the technology transfer and commercialization company of the Hadassah Medical Organization in Jerusalem. Later on, Dr. Hofstein joined Medica Ventures, a lead VC in Israel and served for 10 years as the president and CEO of Hadasit.

Dr. Hofstein was the founder and served as chair of Hadasit BioHolding Ltd., a publicly-traded holding company (10 start-ups under management) on the Tel Aviv Stock Exchange (TASE) since 2005. Other directorships held on TASE publicly-traded companies include: Bioline RX (drug development); Exalenz (medical devices); and Evogene (agri-bio).

He has also served as chairman of BIOMED, Israel’s annual biomedical conference, from 2005 to 2007. In addition, Dr. Hofstein is a co-founder and board member of ILSI, the Israeli Life Science Industry Organization, and a co-founder and executive in Israel’s Tech Transfer Network (ITTN).

Corporate & Business Strategy

Early-Stage Investing

Life Sciences and Healthcare

Technology Transfer

Commercialization of Innovation

English

MaRS Innovation Profile

Interview

Good News for Bad Guts

Ontario's Life Sciences Community Looks to Capitalize on the Asian Opportunity

Cleantech and healthcare: two sectors leading exponential technology growth in Toronto

Biotechnology research: a knowledge economy

Interview: Raphael Hofstein, President & CEO, MaRS Innovation, Canada

Cracking the innovation code – Creating Canadian value in the global market

Strengthening the interface between industry and technology transfer offices

Shaping our future in the changing global biopharma R&D economy

President & CEO

14 Raphael Hofstein 2011 Ivey ICHI Toronto GHSI

Technology reporter Alastair Charlton speaks to Dr Raphael Hofstein, CEO of MaRS Innovation, about how Tech City in the UK can learn from Canada's hub for sc...

Interview with Dr Raphael Hofstein of MaRS Innovation

From the 2013 Ontario Economic Summit. "Made in Ontario" companies are must-have components of a successful global strategy. But, what does it take for a mul...

2013 Ontario Economic Summit | Ontario's Global Strategy: Landing the Big Fish and Growing Our Own

MaRS Innovation backs big thinkers with bold ideas. We support translational research emerging from our 15 academic member institutions by helping to bring their ideas to market. 

Together, we're discovering new ways our partners can launch and grow Canadian companies while changing lives.

Visit us at: http://bit.ly/1w5KGmx

MaRS Innovation: Ahead of Innovation

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